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Home » Electronic Rent Collection Program
| Electronic Rent Collection Program |
The Next Generation in Electronic Rent Collection!
ICTDirect offers the most efficient, secure and cost effective
method of collecting rent from your tenants.
Our services are tailored to streamline the work of property
owners and property managers alike.
Save money and eliminate late payments
- Reduce administration and overheads.
- Timely payments.
- Enable budgeting.
- Spend more time assisting residents and getting new prospects instead of
processing checks.
- Increase cash flow - tenants often wait until their grace period is about
to expire before mailing in their check. This delay in rental funds is a
temporary loss of your usage of this money. This temporary 'float' impacts
your cash flow and save time and effort.
- Automatic late correction - If funds are unavailable on first attempt,
we will collect late fees according to your specification.
Eliminate Chasing Letters
- All fully automated electronic transfers, no more check depositing.
- Sophisticated repaying mechanism.
Segregated by Tenant
- Increased customer satisfaction for tenants due to convenience... eliminate
trips to the Post Office and fees for postage stamps.
- As quick and easy as credit cards.
- Be informed of insufficient funds within days instead of weeks as with
paper checks.
- Reduce fraud and returns.
- Spend more time on marketing and less on debt collection.
ICTDirect Sophisticated Reporting Mechanism
- Online access to view account status 24hrs a day / 7 days a week.
- Client fund segregation for ease of viewing and monitoring.
- Liquidity repaying to enable budgeting.
- Be informed of insufficient funds in days instead of weeks as with paper
checks.
- Monthly reporting.
Safe, Secure Transactions
It is our responsibility to provide a trusted service to you
and your tenants. We adhere to the Federal Regulation E - Electronic Funds
Transfer Act of 1978 - which protects e-funds transfers.
In addition, all information is encrypted between your browser
and ours, making it impossible for any information to be read.
Safe and secure. Your mark of professionalism and ours.
Encouraging Tenants to use ACH
- Make ACH mandatory for new tenants - have them sign the paperwork as part
of their lease.
- Offer a rebate if rent is paid electronically and on a timely basis for
a year - a small concession for your time and money savings annually.
- Make a surcharge for not paying electronically.
- Stress the convenience - no more postage stamps and trips to the mailbox.
Paying the rent becomes a mindless activity.
- Stress the benefit of easy budgeting and cash flow.
Frequently Asked Questions
What is ICTDirect?
ICTDirect (Intentional Commercial Transactions Direct, Inc.) is the most effective,
secure and cost effective method of rent collection from tenants. It is a
fully automated method of withdrawing funds from tenants bank accounts and
directly depositing them into your checking accounts.
Why Should I use ICTDirect?
Increase cash flow by eliminating late payments and decrease administrative
costs. Receive the fastest notification of NSF - 2 days as opposed to weeks
as with paper checks. Eliminate paper checks and therefore, risk reduction
that minimizes your risk of fraud and missing checks. Free up your time to
increase marketing efforts.
How Do I Encourage Tenants to use ICTDirect?
Because ICTDirect is free, ultra-safe and convenient, tenants appreciate this
service as much as you do. Eliminate forgetting the write checks and postage
payments. Tenants receive advance notification of the exact amount and date
of funds to be drawn by email. If your state/local rental housing laws permit,
it is possible to mandate ICTDirect for all new tenants and on renewal of
lease. Your tenants will be safe in the knowledge that ICTDirect complies
with Federal Regulation E, the Electronic Funds Transfer Act of 1978, that
protects all consumer electronic funds transfers.
How do my tenants and I enlist?
In three easy steps:
- Call 866-305-1435 to request enrollment materials. Complete these authorization
forms and submit with a voided check.
- After you have enrolled, your tenants can enroll at anytime. They complete
a tenant enrollment agreement and submit with a voided check.
- After ICTDirect acknowledges receipt, you log on to http://www.ictdirect.com and enter rent amounts and lease expiration dates for each tenants.
Simple. Payments are then automatically collected every month according to
your specification.
How long does it take to set up an account with ICTDirect?
With complete documentation, we provide a 24hr turnaround.
What is the procedure after enrollment?
- We give five days advanced notice prior to the debit day to tenants who
supply email addresses.
- Tenant's checking account is debited on the day indicated by you on the
enrollment form.
- Your properties account is credited with funds three business days date
and a payment report is securely emailed to you. We comply with the Federal
Reserve Bank's three banking days criteria to ascertain that funds are free
and clear.
Is ICTDirect a safe way to transfer funds?
Absolutely. We use state of the art, secure technology to encrypt all communications
between your browser and ours. We are fully insured and bonded and proof
of this is available upon request.
How do I know if tenants payment has been successful?
On your credit day, ICTDirect will email you a detailed report electronically.
You are able to view payments by month, year and tenant name. By segregating
by tenant name, you can easily manage lease options and rent to own properties.
If you require additional repaying, we may be able to assist. Please contact
us.
What happens when tenants have insufficient funds?
Both you and the tenant are notified of a failed payment. Tenants may be charged
a $25 penalty by ICTDirect.
How do I change rental accounts and/or change a debit day?
Easy, Log
onto www.ictdirect.com and update your screen.
How do I sign up?
Just call us at 866-305-1435 or email us at and request an
enrollment form. Start streamlining your business today!
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